Thursday 3 May 2018

Bitcoin price LIVE: BTC climbs back above $9k as British MP"s debate crypto "fad"

https://bitcoincraze.xyz/bitcoin-price-live-btc-climbs-back-above-9k-as-british-mps-debate-crypto-fad/-



8.30am HEADLINES


Hello and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.


Bitcoin is currently up on the day at $9,148, a rise of $81 on the day so far.


Yesterday marked the start of the UK’s executive inquiry into cryptocurrencies and the technology behind them.


The Treasury Committee said it wants to understand the risks and benefits of digital money following an explosion of interest – and investment – in them.


READ – BITCOIN LATEST: MPs told blockchain has ‘very little obvious benefit to society’


The MPs will cover the role of digital currencies in the UK, including the impact on consumers and businesses.


There was a good balance of positivity and cynicism in the room with Ryan Zagone, director of regulatory relations at Ripple, told the debate that although “there’s a lot of hype around the technology right now” blockchain allows us to “validate, store and synchronise information across many different parties more securely and efficiently than we have done before”.


However, Martin Walker, director of the Centre for Evidence Based Management, argued much of the hype around the technology emerged from a “list” circulated on social media and copied from “consultancy paper to consultancy paper”.


He said: “In terms of demonstrable benefits there’s a big problem in the blockchain world with confusing ‘could’ for ‘is.’


“All that it takes to make a credible idea into a fad is people just switch off their brains and stop thinking. Over 20 years in and around the banking industry — blockchain is a fad but I have seen many fads in my career.”


Updates below throughout the day….




11.45am – UPDATE – BTC flat


Bitcoin hasn’t really moved today with the price flat at $9,161.


10.22am – UPDATE – Ethereum and Ripple


Ethereum is up at $680 on the day so far with Ripple at $0.85.


10.06am – UPDATE – Blockchain rap


As British MPs debate the potential future use of blockchain for the Bank of England, here’s the latest smash hit from DRJACKSON 360.


The song’s lyrics suggest that DRJACKSON is a fan of distributed ledger technology.



Source: https://www.express.co.uk/finance/city/954016/Bitcoin-price-MPs-treasury-ripple-cryptocurrency-ethereum-BTC-to-USD-XRP-news


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